This thread is for entertainment purpose only

You have zero business acumen

.

It’s hard to believe you run a business with the mindset this your request reveals.
[quote author=Media145 post=129940036][/quote]

Don’t reduce his achievements to luck

nedekid:

You are lucky.

Yep!! Na dem dem. RUN RUN RUN

No need to hunt for “investors” Buy and make all the millions yourself abi you no like money?

There is none

Allikola:
What is the latest update on Sidra bank mining

They are on the prowl again. Looking for sorry victims

Pinkybush:
If I keep quiet, I'll be the most greedy person on earth. Someone posted in a group I belong to on Facebook, asking what business he can invest 300k into. After so many comments, a lady mentioned an online platform for the guy to invest the money. Many people started calling the lady scammer. But, I picked interest. Since I was looking for a genuine online business to venture into, which I once made a post here on Nairaland, I start following that lady bumper to bumper. I googled the company and found out that the company is genuine. She gave me the link to register and see how the company work. I mean someone I didn't know. They pay in dollar, but will convert your commission at your country's exchange rate to you if you invest.
They have WhatsApp group for members to interact and ask questions. People from different countries are there.
Don't be scam again. Go and google: E&J Gallo Winery. If you are convince on what you see, DM me, let me lead you to your financial freedom. I was not scam, so I'm not here to scam any body. Good luck in advance.

It’s my opinion that it all boils down to lack of trust. People hate being taken advantage of so unless they are sure that you are truly in need of help and not slacking they wouldn’t help.

Some family members will leave you to carry the whole responsibility of your entire lineage if they think you are well to do. Even though some of them can put in some effort they’ll rather put the load on you if they feel your are richer.

Again once you help one and other family members see that you are capable, hmm be ready to be bombarded with request from everywhere. And when you don’t help bad blood begins to build which will be difficult to shied yourself from because family is involved and you cannot distance yourself as you would a friend/strangers. That’s why it easier to help strangers than family

Darlingme:
This has nothing to do with entitlement mentality.

No one is an island and we all need each other to live peacefully.
So, a man died in my neighborhood and his children has forbidden their rich and wealthy uncles from contributing to the burial. Accordingly to the children, their poor father died of starvation, which they have been appealing to relatives, also his only brother who works in an oil company in PH for assistant and he has always promised to help, but never did. This uncle happens to be the first person to send an ambulance to convey the corpse to the village, and the children rejected his offer.
I don't understand. Why do we have rich family members, friends, yet we suffer poverty?
Why is it always easy for people who can save their fellow humans from death, starvation, depression always ignore them, but once he/she dies, it's easy to raise money for burial.

Even on social media, we bully, humiliate each other, push some people into depression with our words and write up, but once the person commit succid, we tend to start posting pics with lovely write ups. Condemning their suicidal action and blaming them for not voicing out?
why? Is it our environment, social way of behaving?

Have you ever experience any of this? Can you share such experience?
What's your general opinion about this?

Awon Good Samaritan

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After all your media stunts, skits and propaganda una go rest and focus on life

It may hinder economic growth for you and your household

dre11:
Nigerian Central Bank Policy On Cash Withdrawal Limits May Hinder Economic Growth As It Happened In India—Report




https://saharareporters.com/2022/12/15/nigerian-central-bank-policy-cash-withdrawal-limits-may-hinder-economic-growth-it

The bulk of the comments here show the stifling mentality the majority is working with.

Because most have tried and failed then others must have succeeded via shady dealings. You nko with all your shady deals in your life why u never blow? Somebody who’s achieved results is advising and you who is still behind is castigating. Continue

It’s ok to not be okay. Don’t let people who are just as f’d up as you are put u under pressure to keep up appearances.

The level of misinformation in the land is just too much. The other day stacks of Naira in a bank was labeled “in somebody’s house”. People hiding behind their phones to incite others with misinformation

As per the second paragraph, Nigeria could have asked for Naira for its crude oil long ago even without Dangote refineries. Crude oil is the major foreign exchange earner of Nigeria ( about 90%), if it sells its only saviour in Naira, how will it earn forex for its numerous foreign obligations?

Dangote refinery buys crude oil for refining in dollars (because it’s priced in $ per barrel earning Nigeria forex) and will also sell in dollars as well. Remember there are foreign loans taken out by refinery which have to be paid back , its major raw material is bought in foreign currency. Why would Dangote refineries sell its output to Nigeria in Naira?

Even if Nigeria pays Dangote refineries in Naira, it’ll still need to exchange same for dollars to settle these obligations.

The refinery will save Nigeria forex rather earn forex.

KEY QUESTIONS ARE:

-What is the daily capacity of the refinery vs the daily local demand ( to determine what will be left for possible export and forex earnings by Dangote)

- What is Nigeria’s crude oil production capacity vs the refinery’s capacity ( to determine what will be left for possible export and forex earnings by Nigeria)


Can currencies appreciate sustainably against the dollar? Sure

Can Naira appreciate sustainably against the dollar? Near impossible with the status quo

It’s all about supply and demand. Anything that can increase the demand for naira, increase the supply of dollars and or reduce the demand for dollars and supply of Naira will cause the Naira to appreciate in a sustainable fashion. With poor financing, insecurity, decaying infrastructure, deplorable educational system, rent seeking, no rule of law etc how can the business environment be conducive for export industries ?

darthv:
Dangote refinery is set to start operation mid next year, which would drastically add value to our naira.

Oil is priced in USD, the government can mandate the sell of crude product in USD but if the crude is paid in naira a percentage discount would be applied.
This would make foreign countries to start holding the naira esp African countries within.

The CBN would also limit the printing of naira and activate the Enaira digital currency in phases, starting from big cities.
A scarce and sort after naira, increases currency value.

Any profit we get from crude sells should be channeled in improving our gold reserve instead of stock pilling dollars that can be printed at will by the US.

Our debt should be paid with the dollars received from exports.

While improving other sectors.
Economist is this logical?

After all the analysis what happens when the torrent of demand for dollars for comes (school, importation including those excluded list, travels etc) and the supply remains as bad as it is today?

angelEmade:

I checked some of your points with Google and some financial analysis tools online. You are so so on point!
.
.
You are definitely a professional fin. Analyst More grease sir.

Your assumption is that abokis need cash to trade. Abokis don't need to withdraw the new notes to continue their forex business. Forex transactions are usually done in banks. I give Aboki dollars inside bank and he transfers Naira into my account. There’s no need to withdraw the new note for the trade.

Lastly production of goods and services that other countries need is the ultimate determinant of the strength of any currency. Cosmetic solutions will soon wear off. If this policy was so sound why wasn’t it implemented long ago, why is it now?

Rilwayne001:
@SEUN Osewa, I see you have been going all about twitter trying really hard to play down the possible positive effect that we can eventually gained from the naira redesign.


But here is another PoV as I await your reply:

1). So many Nigerians have stacked Naira notes in their closets and are cut up with this policy of the CBN. There is a rush by ignorant Nigerians to convert their Naira to Dollars. Naira is at all time low against dollar and it's going to go even lower. For example a man converts #10m to 12,500 USD at the current exchange rate. It's easier to keep it with himself than to deposit in a Domiciliary account with a DMB because of the stringent policies around FX cash deposits. He hopes that by December when the new Nigeria is floated, he'd have his FX converted back to Naira from the Aboki guys he bought his USD from.

2)The Aboki man who sold FX to his customers at exorbitant rate excitedly goes to the DMB to deposit the millions of Naira he got the the FX swap he did. He knows he is getting richer in geometric proportion by this new policy by the CBN. He awaits the printing of the new Naira notes so as to reconvert the Naira he has in his account today USD and continue making more money.

3). All customers who deposited their Naira notes, those depositing and those who would be depositing are eagerly waiting for December 15. The DMBs are also waiting for the said date. Meanwhile there is a cashless policy waiting to hit all Nigerians by January 2023. On December 15th, customers would rush to the DMBs for new notes so as to withdraw as much as they can before January when the cashless policy would be effected 100%. The DMBS would rush to the central bank branches to withdraw new notes. The branches would go to the H/O for new notes. H/O would release just a little to branches based on cash management policies. CBN Branches would release in trinkets to DMB branches and tell them to go manage their customers. DMBs would revert back to their customers based on the low available new cash notes. There would be slight panicking as customers who deposited old naira notes cannot retrieve same notes from the DMBs anymore because of unavailability. Remember, digital money and paper money is still money and so customers would be advised to use electronic channels to make payments.

4) The Aboki guy who kept millions of Naira is also a victim of the shortage of new notes and so he cannot buy back FX from his customers who were hoping to return the ones the got earlier ones the new notes are in place. Aboki begins to panick as well. Those who have FX and need naira notes begin to sell their FX to people who have naira whether old or new just to cash in before January. In doing so, USD begins to crash as rapidly as it rose. Much of the FX becomes deposited in DMBs as carrying the raw cash isn't useful anymore. The CBN is happy because there is more FX in the banking system to give for Forms A, M and Q. Naira begins to gain rapidly against the dollar.

5). In January, cashless policy takes effect. So even if the CBN makes available more new notes to DMBs, customers cannot withdraw above the stipulated across-the-counter limit to avoid heavy charges. Customers are forced to use electronic payments, FX policy and transfer and withdrawal is so stiff that swapping FX and Naira is no more a gain. USD parallel and black market prices crash all the way down to CBN rate. Inflation based on importation of goods and services is checked as Naira becomes strong against dollar. People who have physical dollars would lose. There would be limited access to naira notes as electronic transfers become prevalent. Enaira purchases also become more as Nigerians look for most seamless methods to do payments. By June, whoever takes over power would have a soft landing as this policy by the CBN has controlled a whole lot of inflation, corruption and economic degradation.

6). If you have Naira notes stashed with you, return them back to the bank through your account. Don't try to play smart trying to beat the system, you may become the architect of your own loss. Your 12,500 USD may fall from #10,000,000 to #5,000,000 in June, 2023. Meanwhile if you put same #10,000,000 in Treasury Bills at the current 14.5%, you should be gaining about #725,000 at the same period.

Let's try and look at the bright side of things, Nigeria shall be great by God's grace

.

L

Despite all you’ve mentioned about the price and your focus on price price price (and not half as much energy on the merits of the project)

Isn’t it troubling that the average trading volume is less than it’s price. Less than 1 unit sold in 24hrs

“By 2021 everyone in Nigeria and by 2022 everyone on Africa…..”. These are careless statements from one who’s very naive

We are still waiting to be enlightened on the the project itself and how it plans to solve the problem (if any) it’s been designed to remedy. Talk more about the fundamentals that will drive all these lofty claims you’ve made here

Gnosticstudent:


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Zoe

Obviously you care about my opinion. Don’t contradict yourself in an attempt to give a savage response. Don’t flee to your comfort zone at the mere sight of an intelligent conversation.

gimakon:


Like wait, you think I give a fuck_ about whatever your so called opinions are? Mxm. Get a life Abeg. It's nice knowing you, you can leave, you have been duly noticed.
Mxm

It wasn’t a prayer. Simply saying what gives her joy. Doesn’t make sense to me and neither does your response

gimakon:


The stupid prayer does it make sense to you?

And your non-licking brain says your response is appropriate?

NiklauseFred:


Ur brain is licking.
Didn't you see her comment?

Are you God?

gimakon:

Same prayer goes to you. You would even roast in Hell.
Stupid human being.